States sue TikTok contending addiction harms youth mental health
More than a dozen states and the District of Columbia filed lawsuits against TikTok in state courts alleging the app’s design and features create addictive use among children. The actions hinge on the For You feed algorithm and urge to scroll, persistent notifications, and face filters. The suits follow a national probe into TikTok sparked by attorneys general from New York, California, Kentucky, New Jersey and others. District of Columbia calls the algorithm dopamine inducing and intentionally addictive to trap young users for hours. TikTok and ByteDance challenge a federal law that could ban the platform by mid January if a sale is not completed, with appeals ongoing.
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Disaster loan plan nears default
The SBA warns it could run out of funding to supply hurricane Helene disaster loans across Florida Georgia North Carolina South Carolina Tennessee and Virginia with new offers halted if Congress does not replenish funds. homeowners renters and nonprofits qualify for loans up to 100000 or 500000 while businesses may borrow up to 2 million with rates as low as 4 percent. Milton hurricane looming over Florida adds urgency to the funding dilemma.
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Stocks rebound as oil prices ease after rout
U S stocks rose Tuesday with the S P 500 up 1 percent and the Dow adding 126 points while the Nasdaq led with a 1.4 percent gain as oil declines eased pressure from fears of Middle East disruption. Treasurys dipped slightly as yields eased from highs, signaling steadier market sentiment amid hopeful signs of economic resilience and possible stimulus for China.
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PepsiCo trims full year sales forecast amid slower demand
PepsiCo lowered its full year organic revenue growth forecast to the low single digits as U S and international consumers pull back on snacks and drinks. The company cited weak demand and a large recall as contributing factors while promising lower prices and value packs to boost Lay s, Doritos and Tostitos.
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